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Special Needs Trusts

Provide support to a family member with special needs without jeopardizing their government benefits through a special needs trust.


When someone has a child with special needs, there are many things they must consider for their financial future. Should one need us, The Kelley Financial Group team are knowledgeable and experienced professionals who can assess the family's needs and provide personalized suggestions that help them shape their future.

The Basics

Having a child with special needs can bring unique challenges. Even though it means the family will have unforgettable moments with them, it might also mean that they have to organize their finances differently to accommodate their kid's differences.

Once a parent receives the news that their child's cognitive or physical differences will impair them for life, it's normal to feel scared, angry, or even spend some time grieving. However, once they recover from this, starting to plan their finances as soon as possible can be important and a step you may not want to take alone. 

Hundreds of inspiring stories show parents that their children with special needs can grow and live independently, but when they're young, it's the parent's job to look after them and plan carefully, so the kids can eventually get the opportunities they need to achieve their goals as well.


The Kelley Financial Group has years of experience in guiding businesses and individuals through complex financial matters.

Hiring a Financial Advisor

One way to help ease the burden of planning when there's a child with special needs in the family, is to get help. In other words, even though couples often think they can make all their monetary decisions alone, a financial advisor with experience in special needs planning can help.  

Financial advisors have different tasks, one of which is to assess the client's case and their opportunities and suggest strategies to pursue their goals. Therefore, in the case of a family that has a child with special needs, the financial advisor could locate institutions and mention crucial things to keep in mind before making any decisions.

Although some parents manage things by themselves, getting help from an advisor can allow them to have a much smoother and more enjoyable process. Professionals have the necessary knowledge and experience to give people perspectives they might not have thought of before, which is essential to not only help pursue their financial goals but also to live a happy life with their families.

Creating a Plan

After the person hires an advisor from The Kelley Financial Group, the next step is to create a detailed plan of what they want for their future.

Planning includes detailing what the family has available now and what they want in the future. An effective way to exemplify this is to describe a couple who already runs a business. In this case, they might want to discuss the specific aspects of it with their financial advisor, and the professional could suggest some strategies in terms of managing it and making financial decisions that both benefit their profits and their family.


As is evident from the previous example, getting help from a financial advisor and planning for the future means each client and family goes through a unique process. However, this is something that will be discussed in the next section.

Mapping the Client's Unique Needs

Parents of children with special needs often put their kids' needs before their own. Although this is an instinct of being a dad or a mom, financial advisors often encourage couples and families to not do that. Instead, they help clients map their specific and unique needs considering every member of the group.


The financial advisor often also considers the family's long-term goals and possible options. Therefore, part of their job is to determine all the factors that influence the group's financial future, and with that information, they give personalized suggestions that the clients can implement.

Incorporating New Circumstances into the Client's Future

Families without children with special needs require a completely different type of planning. Therefore, parents and caretakers must understand that they have to consider new circumstances when they're making decisions for their future.

Even though some circumstances change, others might remain the same, for example, the goals of everyone within the family. Family vacations, new career paths, starting a small business, or going back to school are all examples of things that drastically affect a financial plan.


The financial advisor must consider all those factors before making any suggestions and consider the new additions to their plans, for instance, potential care for the child with special needs.

Types of Special Needs Trusts

On many occasions, a common way to handle the expenses of raising a child with special needs is to open a trust. Financial advisors can give clients all the information they need about this, but in a nutshell, there are two different types.

First-party Special Needs Trust

The funds from a first-party special needs trust come from their own assets, for example, in cases where someone leaves an inheritance to one of their children.

Third-party Special Needs Trust

In this second case, third parties are the ones to fund the trust. Some people do this by using their insurance, although things can vary depending on the case.

Getting Help Is Ideal

Numerous parents have mentioned how beautiful it is to have a child with special needs because these kids see the world in a way no one else does. However, in terms of family finances, things can get tricky, especially if the person requires assistance or different things to develop correctly.

Regardless of the case, raising a child with special needs is challenging financially, and with help from a financial advisor, their monetary decision-making process can be much smoother.

 Advisors from The Kelley Financial Group are ready to help clients, assess their cases, and guide them, especially if they're choosing to open a special needs trust for their child.


This material was prepared for The Kelley Financial Group’s use. 


The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision. 

The Kelley Financial Group and LPL Financial do not offer tax or legal advice or services. We suggest that you discuss your specific situation with a qualified tax or legal advisor.

Building Your Financial Future

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